Property Overview
490 Springfield Road presents a practical opportunity in Winnipeg's Rossmere-A neighborhood. Built in 1989, it is a notably newer home compared to most in the area. With 696 square feet of living space and a 3,709 square foot lot, it is compact relative to its neighbors and the wider city. Its current assessed value is $294k, which sits below local averages. The home last sold in mid-2019 for an estimated $200k–$250k.
Key Characteristics & Appeal
This property’s primary appeal lies in its modern build date within an established neighborhood, potentially offering updated infrastructure and fewer immediate repair concerns than older stock. Its below-average size and value make it one of the more accessible entry points into homeownership in the area. The appeal is grounded in practicality rather than luxury, suiting first-time buyers, downsizers, or investors seeking a lower-priced holding. A thoughtful perspective is that its smaller footprint can mean lower utility costs and less maintenance, aligning with a simpler, more efficient lifestyle. However, buyers should be prepared for a home that is modest in both space and lot size compared to nearby properties.
Frequently Asked Questions
1. Why is the assessed value below neighborhood and city averages?
The assessed value reflects the home's smaller living area and lot size relative to comparable properties. It is priced for its specific attributes, not the neighborhood as a whole.
2. What does the "Elite" ranking for its build year in the neighborhood mean?
It means this home, built in 1989, is significantly newer than most homes in Rossmere-A, where the average build year is 1964. This suggests potentially newer major systems like plumbing, electrical, and roofing.
3. How does the smaller lot size impact the property?
The 3,709 sqft lot is below average for the street and city. This typically means a smaller yard, which could be a pro for low-maintenance living or a con for those desiring more outdoor space.
4. The home sold in 2019. What can that price history indicate?
The prior sale price range suggests the property has been an affordable option for some time. It can provide context for market trends, but the current value is set by the most recent municipal assessment.
5. Who would this property suit best?
It is best suited for budget-conscious buyers, such as first-time purchasers or investors, who prioritize a newer build year and lower entry cost over square footage and lot size. Its scale may not fit growing families needing more space.